State Street Corp Has $179.99 Million Stock Position in Affiliated Managers Group, Inc. (NYSE:AMG)

State Street Corp reduced its position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,012,338 shares of the asset manager's stock after selling 18,931 shares during the quarter. State Street Corp owned approximately 3.40% of Affiliated Managers Group worth $179,994,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AMG. Blue Trust Inc. lifted its holdings in shares of Affiliated Managers Group by 107.8% during the 2nd quarter. Blue Trust Inc. now owns 962 shares of the asset manager's stock worth $161,000 after acquiring an additional 499 shares during the period. Raymond James & Associates boosted its holdings in Affiliated Managers Group by 9.6% during the second quarter. Raymond James & Associates now owns 234,647 shares of the asset manager's stock valued at $36,659,000 after purchasing an additional 20,514 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Affiliated Managers Group by 1.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,124 shares of the asset manager's stock valued at $1,269,000 after purchasing an additional 150 shares during the period. Summit Global Investments bought a new stake in shares of Affiliated Managers Group in the 2nd quarter valued at approximately $618,000. Finally, Lecap Asset Management Ltd. raised its holdings in shares of Affiliated Managers Group by 44.7% in the 2nd quarter. Lecap Asset Management Ltd. now owns 7,651 shares of the asset manager's stock worth $1,195,000 after buying an additional 2,364 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on AMG shares. Deutsche Bank Aktiengesellschaft upped their price target on Affiliated Managers Group from $204.00 to $208.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Barrington Research lowered their target price on shares of Affiliated Managers Group from $210.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, November 5th. Finally, TD Cowen cut shares of Affiliated Managers Group from a "buy" rating to a "hold" rating and dropped their target price for the stock from $226.00 to $177.00 in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $196.50.

Affiliated Managers Group Stock Down 1.1 %

AMG traded down $2.14 during trading on Friday, hitting $186.71. The company's stock had a trading volume of 209,837 shares, compared to its average volume of 234,461. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 0.69 and a beta of 1.15. The firm's 50 day moving average price is $187.62 and its two-hundred day moving average price is $174.00. Affiliated Managers Group, Inc. has a 12 month low of $145.36 and a 12 month high of $199.52.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.84 by ($0.02). Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The business had revenue of $525.20 million during the quarter, compared to the consensus estimate of $521.87 million. During the same period in the prior year, the firm earned $4.08 earnings per share. The business's quarterly revenue was up 1.7% compared to the same quarter last year. On average, sell-side analysts forecast that Affiliated Managers Group, Inc. will post 20.91 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were given a dividend of $0.01 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. Affiliated Managers Group's payout ratio is 0.26%.

About Affiliated Managers Group

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.